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Assess your COMPETITION
How are we different from the competition?
What are the general market conditions of our business?
What needs are there for our products and services?
What are the customer-market-technology opportunities?
What are the customer’s problems and complaints with the current products and services in the industry?
Competitor analysis is a critical aspect of this step.
• Identify the actual competitors as well as substitutes.
• Assess competitors’ objectives, strategies, strengths & weaknesses.
• Select which competitors to attack or avoid.
Respond to the following questions to be prepared for an internal meeting with your company:
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